Why house and land packages are a worthwhile investment
Buying a property is something that many people want to do in the course of their lives. The great dream of homeownership is a huge part of the dream of many families and whether you want to invest in property as a way of securing the financial future of your family, or whether you want to diversify your portfolio, the fact remains that property investment is one of the most secure things you can work towards. There are many options available to you as an investor and it makes sense to be aware of the possible options as it will make for a smoother journey all up.
I know when I first began researching properties to buy that I was completely in love with the display homes at Boutique Homes, and found it very hard to go past their options. I also learned a lot about house and land options for myself and my partner as we were looking to aim for capital gains and appreciation on our purchase price, so it was definitely something we were interested in. I’d like to share some of the things I learned while I was researching house and land packages. This will provide you with a head start in the research department. After all, self-research is a huge part of the property investment journey!
Benefits to buying house and land
When you’re buying house and land properties, you have the option available to you to choose the fixtures and fittings that will go into the home. This is a great option that you won’t have when you’re purchasing an established home, and it gives you greater freedom to choose the options in your property that are going to make it appeal to a wide range of renters. After all, this is one of the most important parts of your property purchase: whether it appeals to a range of renters.
There are also some common questions that are asked about house and land properties and I’ve addressed some of these here:
How do you find a house and land for sale?
You’ll find that house and land packages are often tailored to a certain group of people or buyers – and you might find a very family friendly option, or a house and land estate that is situated near golf courses. Unless you know of a specific house and land estate being built near you, you can find these sorts of developments easily enough by going onto the web and searching, or by contacting the developers.
How do you know which developer to choose?
It’s best if you can take a look at some of the other developments that the developer has been involved in. Take a look around the estate and find out if the aesthetic appeals to you and get a feel for the houses. If possible, have a chat to the homeowners or renters and find out about the quality and the build of the homes.
How is buying a house and land package different to buying a house?
The finance process for buying a house and land package is different as you usually buy the land and then build the house. You can obtain two separate loans and then bundle them together. The purchase of the land is going to be a standard real estate loan with a regular mortgage, and the house build requires a construction loan where you draw on a certain amount of finance for the build of the house.
I hope the areas I’ve addressed here will go some way to helping you on your own journey of homeownership or investment. Happy hunting!